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Markets previously expected an escalation of the trade war between China and the United States, following reports that the Trump administration could impose additional duties of $ 200 billion on Chinese products. HK / SIN Friday.
The Chinese Ministry of Commerce also said on Thursday that the country would retaliate if the United States imposed new tariffs.
At 12:48 pm HK / SIN, however, there was still no news on this front.
Nevertheless, some economists expect the conflict to continue.
Raymond Yeung, chief economist of research at ANZ (Greater China), said in a report Friday that an "end point" had not been reached in the Sino-US trade dispute.
"We believe that the US government will continue to step up the scale and scope of trade and investment measures against China … The Trump administration is not just targeting the bilateral trade balance between the United States and China. been released in May, "he wrote.
"The administration's policy towards China also targets other aspects such as technology transfer, and the ultimate goal is to ensure that the United States remains the world's largest economy" , he added. Mid-term elections in the United States in November.
In the meantime, negotiations between the United States and Canada are still ongoing as both parties seek to hear about the future of the North American Free Trade Agreement. The talks are expected to continue and could last for weeks.
The US dollar index, which tracks the greenback against a basket of currencies, was at 94.985 at 12:40 pm. HK / SIN, out of his reach yesterday.
The Japanese yen was still up against the dollar at 110.56 while the Australian dollar fell further to $ 0.7165 at 12.41. HK / SIN.
Oil markets have largely lost their earlier gains in the afternoon of Asian trade. Brent's benchmark overseas was down 0.12% to $ 76.41 per barrel. Futures on West Texas Intermediate crude were largely stable at $ 67.77 per barrel.
– Fred Imbert and Reuters from CNBC contributed to this report.
